Economy

According to provisional data released by the government, India’s merchandise exports in October rose 42.33% to US$ 35.47 billion.

Manufacturing activity enhanced to an 8-month high in October due to festival demand, but it failed to arrest employment cut off by firms as existing manpower were adequate to meet the rising demand, revealed IHS Markit Purchasing Managers Index (PMI) survey.

People’s massive turnout to purchase local products this festival, in response to Hon’ble Prime Minister’s appeal, has done wonders for Khadi. On 30th October, the single-day sale of Khadi at its flagship outlet at Connaught Place, New Delhi, stood at a whopping Rs 1,29,05,000 (Rs 1.29 crore), surpassing all previous records. Earlier, the highest ever single-day sale of Khadi was recorded at Rs 1,28,33,000(Rs 1.28 crore) on 2nd October 2019.

Home to the world’s largest semiconductor and microprocessor manufacturing sector, Taiwan is also a hub for electronics and precision tools. India wants a steady supply of these key items and would like more Taiwanese companies to shift operations to India.

According to textiles ministry, India’s handicraft exports in the first six months of the FY22 stood at Rs. 15,995.73 crore (US$ 2.13 billion), a growth of over 60.34% over the same period last year.